Kidderminster Harriers FC in 'dire financial position'
Thu 4th Nov 2010 | Money & Finance
Dave Reynolds, the new Kidderminster Harriers chairman says that they are in a "dire financial position" in an urgent new club appeal for fresh investment.
After taking a majority shareholding at Aggborough on Saturday, Reynolds is already warning that Harriers are just days away from being in real hot water.
"The club has outstanding debts of over £250,000, 50% of which is due within the next few days," Reynolds told the BBC.
"We are in a dire financial position. I would be thrilled to hear from anyone."
The club were put up for sale last month by then chairman Barry Norgrove, who, along with fellow director Neil Savery, resigned when the Kidderminster board accepted Reynolds' offer.
But Reynolds has already made it clear that his appointment was only a short-term solution, while the Blue Square Bet Premier club seek the major investment needed to keep them afloat in the long term.
"It is my intention to remain as chairman in the short term only until someone more suitable becomes available," said Reynolds.
"We are seeking community support in resolving the issues so that we can return to having a vibrant, financially secure football club at the heart of our town.
"The board are working hard to identify areas to improve efficiency and to reduce costs but without a large cash injection, the long-term future of the club is not viable."
- SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
- BECOME A FAN OF F.C. BUSINESS ON FACEBOOK
- FOLLOW OUR TWEETS ON TWITTER
- LINKED IN TO FOOTBALL INDUSTRY PROFESSIONALS
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk
Google
Yahoo
Live
del.icio
DiggRelated Articles
Manchester City 'best value for money' for fans
Tue 22nd May 2012 | Money & Finance
Manchester City have won the Premier League title and are also top of the league of value for fans, according to the ING Direct Value table. The bank chart compares club season ticket costs with...
Manchester United remain world's most valuable football brand
Tue 22nd May 2012 | Money & Finance
Manchester United remain the world’s most valuable football brand with a value of €672.9 million (£543m), despite ending the 2011-12 campaign without a trophy. The Brand Finance...
Gold welcomes financial benefits
Mon 21st May 2012 | Money & Finance
David Gold admits West Ham would have been in big financial trouble had they failed to make an immediate return to the Premier League. Gold reckons that Ricardo Vaz Te's goal three minutes from time...
Liverpool Count Cost Of Stadium Ambitions
Thu 3rd May 2012 | Money & Finance
Liverpool’s latest accounts show the true extent of Hicks and Gillett’s troubled tenure with over £35m wasted on the failed Stanley Park project. In an interview on the club’s...
